Book Series
SHIPPING AND TRANSPORT LOGISTICS
VOLUME TWO
THE BUSINESS OF SHIPPING

Chapter 2: Forecasting the shipping market

PagesContents
19 - 46Shipping market is characterised by strong volatility. A reviewing of commonly used forecasting models raises the question: Can the movement of markets be described as a random walk? The chapter presents new ways to predict the freight market. This study starts with an introduction of basic concepts and a literature review on forecasting in shipping market. The steps for working with time series are then discussed. This chapter presents a forecasting on shipping market with a non-linear model. Empirical data are used to illustrate the application of the proposed forecasting model.
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